Clear Media, China’s largest bus-shelter vendor, was acquired by a consortium at a premium.

Clear Media, China’s largest bus-shelter vendor, was acquired by a consortium at a premium.

Clear Media, the largest bus shelter media operator in China, has been acquired by a consortium of investors, driven by the existing Clear Media management team. The consortium acquires all the shares in the entire issued share capital. The offer shares are HK $ 7.12 each in cash, which is 39.61% higher than the closing price on the last trading day, HK$5.10.

Clear Channel KNR Neth Antilles NV, a subsidiary of Clear Channel Outdoor Holdings, Inc., who owns approximately 50.9% of the issued share capital of Clear Media, gave its irrevocable undertaking to tender its shares in favour of the offer by the Offeror.

The composition of the consortium, 40% is Mr. Han Zijin, the current CEO and executive director of Clear Media, 30% comes from Antfin, 23% from JCDecaux Innovate and 7% from China Wealth Growth Fund.

As of December 31, 2019, Clear Media operated more than 57,000 panels in 25 cities in China. This acquisition reflects confidence in the future prospects of outdoor advertising in China. Antfin, a subsidiary of Ant Financial, was started from Alibaba Group. Since 2018, AntFin has invested RMB15 billion in FocusMedia and HKD142 million in Asiaray. Investing again in China's largest outdoor street media operator shows the unlimited potential and ambition of online and offline integration.

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